Question

Advancement of international trade is an index of country's economic development

Answer 1

❤If a country is present in global market, it can import goods and raw materials. Since all raw materials are not always there, this exchange helps in continuing production.

✌2 There are increased job opportunities once a country is in the international market, MNCs will set up and provide job opportunities.

❤3 Foreign investment helps accelerate development.

✌4 Also by participating in the international trade, country earns the much needed Foreign exchange.

❤5 The country also benefits from technology brought in by Foreign companies.

✌6 When a domestic company becomes MNC and establishes in other countries, it channelises the exchange of culture and indirectly helps in promotion of tourism industry.

❤Advancement of a country's international trade is an index of it's economic prosperity because:International trade is in fact an 'economic barometer' of a country. A healthy volume of it ensures a trickling down of prosperity into the macroeconomy as well. No country is self sufficient in all resources or services.